Islamic banks and banking institutions that offer Islamic banking products and services (IBS banks) are required to establish a supervisory board of Sharia (SSB) to advise and ensure that operations and activities the bank comply with Shariah principles. On the other hand, there are also those who feel no form of the bank will never comply with Shariah [25].
In Malaysia, the National Advisory Council of Sharia, which also set up at Bank Negara Malaysia (BNM) advises BNM on the Shariah aspects of the operations of these institutions and their products and services. (See: Islamic bank in Malaysia). In Indonesia, the Ulama Council serves a similar purpose.
A number of consulting firms Sharia (either independent or subsidiaries of large financial groups) have emerged to provide advisory services Sharia institutions offering Islamic financial services. The independence, impartiality and conflicts of interest have also been recently voiced.WDIBF World Database for Islamic Banking and Finance has been developed to provide comprehensive knowledge on all sites linked to this type of banking.
There are number of organization has been setup worldwide to provide advisory services in the Islamic financial market.
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